Market/Mixed Economies

Which type of economy is most prevalent in the world today?

• mixed

• command

• market

• traditional

In which economic system are economic decisions made by businesses?

• Command

• Traditional

• Market

What is Private Property Rights ?

• Rights for others to own

• The rights of an individual/groups to own property

• two owners and its open for anybody

What does Laissez Faire Mean ?

• Leave me alone

• go further

• look ahead

• leaving things alone

All real world markets have some _____ of government involvement .

• Degree

• power

• privacy

• limits

Competition Leads To _______________.

• Specialization

• Market

• Trade

• Resources

What are one of the key characteristics of a Free Market Economy?

• Private Ownership

• Competition

• Economic Freedom

• Limited Government

True or False : For markets to operate efficiently, private property rights need to be well defined and actively enforced by law

• True

• False

True or False : Self-interest guides voluntary exchanges

• True

• False

True or False :Market Economies are not characterized by competition.

• True

• False